{"id":554987,"date":"2023-02-22T10:00:00","date_gmt":"2023-02-22T07:00:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/us-crypto-regulation-happening-behind-closed-doors-blockchain-association-ceo\/"},"modified":"2023-02-22T10:00:00","modified_gmt":"2023-02-22T07:00:00","slug":"us-crypto-regulation-happening-behind-closed-doors-blockchain-association-ceo","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/us-crypto-regulation-happening-behind-closed-doors-blockchain-association-ceo\/","title":{"rendered":"# US crypto regulation happening \u2018behind closed doors\u2019 \u2013 Blockchain Association CEO"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a23e82edc9d5\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a23e82edc9d5\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/us-crypto-regulation-happening-behind-closed-doors-blockchain-association-ceo\/#%E2%80%9D_US_crypto_regulation_happening_%E2%80%98behind_closed_doors_%E2%80%93_Blockchain_Association_CEO_%E2%80%9C\" >&#8221; US crypto regulation happening \u2018behind closed doors\u2019 \u2013 Blockchain Association CEO &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_US_crypto_regulation_happening_%E2%80%98behind_closed_doors_%E2%80%93_Blockchain_Association_CEO_%E2%80%9C\"><\/span>&#8221; US crypto regulation happening \u2018behind closed doors\u2019 \u2013 Blockchain Association CEO &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjMtMDIvZTcwZDZmZDktOTJlNS00ZjEyLWI2NTktZTcyMjQ0MDkzMTk3LmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-48054ca8>The United States Congress needs to take control of crypto legislation to make it a more \u201copen process\u201d where the entire marketplace is looked over \u201ccomprehensively,\u201d suggests the chief of the prominent U.S. crypto industry body.<\/p>\n<p>In a Feb. 22 Bloomberg <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/videos\/2023-02-21\/crypto-regulation-is-moving-fast-blockchain-association-video\">interview<\/a>, Blockchain Association CEO Kristin Smith said the industry needs U.S. lawmakers to lead crypto legislation despite it making the process \u201cvery slow\u201d and regulators \u201cstepping in\u201d in the interim.<\/p>\n<p>Smith noted that despite regulators \u201cmoving very quickly,\u201d progress on legislation is h<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ening \u201cbehind closed doors,\u201d suggesting it&#8217;s vital for more industry involvement in an \u201copen process\u201d which would be seen in Congress. <\/p>\n<p>Smith believes the issue with regulators leading legislation with enforcement actions and settlements is related to \u201cvery specific facts and circumstances.\u201d<\/p>\n<p>She explained it\u2019s a difficult position for Congress at the moment, as many in Washington D.C. who \u201cwere close\u201d to former FTX CEO Sam Bankman-Fried and FTX feel \u201cburned\u201d and \u201cbetrayed\u201d over the collapse of the cryptocurrency exchange in Nov. 2022.<\/p>\n<p>Smith is hopeful that stablecoin regulation will soon happen in the U.S., saying Congress has been looking at it \u201csince 2019\u201d and the \u201cwork has been done.\u201d She said it \u201ccame close\u201d to happening last year prior to the collapse of FTX.<\/p>\n<p><strong><em>Related: FTX poked the bear and the bear is pissed \u2014 O\u2019Leary on the crypto crackdown<\/em><\/strong><\/p>\n<p>She further added that crypto risks are different from traditional financial services, so it is vital regulators spend more time looking at market regulation and \u201ctailor to those risks.\u201d<\/p>\n<p>Smith suggested that stablecoin and \u201cmarket side\u201d regulation should be a higher priority than focusing on legislating crypto-related criminal activity, saying that public ledgers make it \u201cmuch more transparent\u201d than we see in the traditional financial system.<\/p>\n<p>This comes after Blockchain Association\u2019s chief policy officer, Jake Chervinsky, took to <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> on Feb. 15, stating that no matter how many enforcement actions the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) bring, they are \u201cbound by legal reality,\u201d adding that \u201cneither\u201d has the authority to \u201ccomprehensively regulate crypto.\u201d<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"crypto_biz\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/us-crypto-regulation-happening-behind-closed-doors-blockchain-association-ceo\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; US crypto regulation happening \u2018behind closed doors\u2019 \u2013 Blockchain Association CEO &#8220; The United States Congress needs to take control of crypto legislation to make it a more \u201copen process\u201d where the entire marketplace is looked over \u201ccomprehensively,\u201d suggests the chief of the prominent U.S. crypto industry body. In a Feb. 22 Bloomberg interview,&#8230;<\/p>\n","protected":false},"author":1,"featured_media":554988,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/s3.cointelegraph.com\/uploads\/2023-02\/e70d6fd9-92e5-4f12-b659-e72244093197.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74858,75147,135234,74898,75493,74355,52214,70934,67874,2199],"class_list":["post-554987","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin-regulation","tag-bloomberg","tag-ftx","tag-sec","tag-stablecoin","tag-adoption","tag-congress","tag-regulation","tag-united-states","tag-washington"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/554987","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=554987"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/554987\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/554988"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=554987"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=554987"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=554987"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}